After a range bound move for five days Nifty give a clear breakout on Tuesday closing above 11724 the next up target for Nifty is 11875 . As the monthly expiry is only two days left it shows accumulation of Nifty on dip in the range of 11714 to 11688 as there are negative divergence in intraday charts . Than the final up target for Nifty is 12000 to 12100.
The option data suggest that puts are heavily writing off at 11700 and 11800 levels and maximum puts are accumulated at 11700 levels . Accumulation of puts at 11700 levels shows Nifty may take support in the range of 11740 to 11688.